Calculation and Knowledge

Thanks to government interventionism and regulation, the once-promising gig economy is foundering. It's time to let entrepreneurs be entrepreneurs.

Despite what many elites believe, AI can do many things, but it cannot successfully plan an economy. It lacks the intelligence of an entrepreneur.

Much of government-owned transportation destroys rather than adds to wealth. The lack of a sound system of economic calculation is to blame.

While F.A. Hayek is known for his term “spontaneous order,” Mises saw institutional development as coming from growth in human understanding of things.

Economic calculation is not an either-or proposition. Even in so-called market economies like that of the USA, there is plenty of government intervention that distorts market processes.

Following the collapse of the USSR, many socialists pinned their hopes upon the development of a "market socialism" that would be economically efficient and create equality. Marxist philosopher G.A. Cohen wisely dissented.

Despite what many elites believe, AI can do many things, but it cannot successfully plan an economy. It lacks the intelligence of an entrepreneur.

Much of government-owned transportation destroys rather than adds to wealth. The lack of a sound system of economic calculation is to blame.

Economic calculation is not an either-or proposition. Even in so-called market economies like that of the USA, there is plenty of government intervention that distorts market processes.

Dr. Tate Fegley talks about his lectures from Mises University on policing, AI, and the deep state, and the important topic of economic calculation that connects the three.